Nebraska farmland values slip three percent

corn-irrigate-keya paha county 6-13After five years of increases, average farmland values in Nebraska dropped three percent over the past year.

That’s according to preliminary findings from the University of Nebraska-Lincoln 2015 Nebraska Farm Real Estate Market Survey.

The biggest percentage drop was in the eastern district, which was down 10 percent, while the biggest increase was in the north district, which was up seven percent. That increase was due to the high percentage of grazing and haying land in the northern counties.  The statewide average value for non-tillable grazing land increased 12 percent, while the average value for hay land increased 20 percent.

Gravity-irrigated land values fell four percent and center-pivot irrigated land values were down two percent on average. Dryland acres dropped by nine percent.

Cash rental rates for most cropland decreased from five to 15 percent, although dryland parcels in central Nebraska were up five percent.

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